What Is PID?
From Wikipedia: "A PID controller calculates an 'error' value as the difference between a measured [Input] and a desired setpoint. The controller attempts to minimize the error by adjusting [an Output]."
So, you tell the PID what to measure (the "Input",) Where you want that measurement to be (the "Setpoint",) and the variable to adjust that can make that happen (the "Output".) The PID then adjusts the output trying to make the input equal the setpoint.
For reference, in a car, the Input, Setpoint, and Output would be the speed, desired speed, and gas pedal angle respectively.
Tuning Parameters
The black magic of PID comes in when we talk about HOW it adjusts the Output to drive the Input towards Setpoint. There are 3 Tuning Parameters (or "Tunings"): Kp, Ki & Kd. Adjusting these values will change the way the output is adjusted. Fast? Slow? God-awful? All of these can be achieved depending on the values of Kp, Ki, and Kd.
So what are the "right" tuning values to use? There isn't one right answer. The values that work for one application may not work for another, just as the driving style that works for a truck may not work for a race car. With each new application you will need to try Several Tuning values until you find a set that gives you what you want.